Facebook could earn more cash from virtual currency, exec says

Virtual currency on Facebook has the potential to be a bigger revenue maker than the ads business on the social-networking giant’s site, the head of its European operations Colm Long told a digital conference in Dublin this week.

Speaking at the Digital Landscapes conference at UCD this week, Long said that globally more than 400m people around the world use Facebook. In Ireland, the service is used by 1.4m people, most of whom have been active on the site in the last 30 days. He said that more than 700,000 Irish people are on the social networking site every day.

Long said that many brands are already using its pages as a means to maintain an audience and embrace the digital opportunity. He cited the New York Times’ Facebook page as an example of a traditional brand that stands out in the social networking world, bringing print and online into Facebook and creating an identity that puts breaking news into peoples’ news feeds. Read More

Courtesy: Silicon Republic